CSCO – stock got drilled today, down nearly 11% on what amounted to disastrous revenue guidance for the current quarter, below the 4% yoy consensus for growth to down 8-10%. Options activity was …
Continue readingBBY
BAC – A trader sold 125,000 Jan2015 $17 calls at .79 to close, vs the trader buying 4,125,000 shares for 14.45. Open interest in the strike is 194,000. EWJ – The Japanese ETF saw …
Continue readingSPY and VIX options were the most active, but here were a few other standouts. JPM – The Oct / Nov 52.5 put calendar traded around 20k times at 0.80. The Nov / Dec 52.5 call …
Continue readingI had delineated the $35 as the line in the sand for the BBY trade from earlier this week. Well, the stock has breached that level this afternoon, after another day of strength, so I’m …
Continue readingBBY is now up around 200% from its low in December, and incredible run higher in less than 9 months. And their numbers this morning were very good, so the stock opened up more than …
Continue readingConsidering Our Options, July 10th, 2013: I received several questions in the last week about my view of the BBY position as it rallied towards $30. I was certainly surprised to see it break out …
Continue readingI have had some success trading BBY this year counter to the uptrend (trades here and here), which has been a bit lucky given how incredibly strong the stock has traded. But I have found …
Continue readingMorningWord 5/24/13: When I was a young trader working with and for older traders I used to hear a lot of war stories and get lots of advice. So here is a an example of …
Continue readingMorningWord 5/23/13: As Enis said in his MacroWrap earlier, “escalator up, elevator down”, not much more that needs to be said on the Nikkei. We have mentioned on more than one occasion in the the …
Continue readingMorningWord 5/22/13: Another day, another record for the SPX. While the price action can be categorized as relatively sideways, it wasn’t a great day to be a big box electronics or video game retailer. BBY was down 4.3% on …
Continue reading